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4-Traders Homepage  >  Shares  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Gazprom OAO    GAZP   RU0007661625

GAZPROM OAO (GAZP)

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Gazprom OAO : Gazprom completes production wells drilling at Nizhne-Kvakchikskoye field in Kamchatka

03/30/2012 | 11:14am US/Eastern

Gazprom completed drilling of five gas condensate production wells at the Nizhne-Kvakchikskoye field. Once the construction and connection of new wells is finished, the total number of wells will reach nine - that will create the conditions required to increase gas output to the projected level - from 175 to 575 million cubic meters a year.

This year the Company plans to complete the Kshukskoye and Nizhne-Kvakchikskoye gas and condensate fields pre-development as part of the Project on Gas Supply to Kamchatka Krai. Production and auxiliary facilities are currently being constructed, installed and pre-commissioned at the fields.

According to Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, as soon as in 2013 the Company will be technically equipped to daily supply consumers in Kamchatka with 2 million cubic meters of gas produced from both fields, which is twice as much as the present-day level.

Background

In September 2007 the Russian Government made a decision to involve Gazprom in the Project on Gas Supply to Kamchatka Oblast, Phase 1 - Gas Supply to Petropavlovsk-Kamchatsky.

As part of the project, Gazprom started pre-development of the Kshukskoye and Nizhne-Kvakchikskoye fields on the western coast of the Kamchatka Peninsula. In 2011 the Kshukskoye field output was raised to the projected level - 175 million cubic meters a year and Phase 1 of the Nizhne-Kvakchikskoye field was put into operation with the same output. It is planned to annually produce 750 million cubic meters of gas from these fields in the future.

In order to supply consumers in the Kamchatka Krai with gas, Gazprom promptly completed construction and in 2010 put into operation the Sobolevo - Petropavlovsk-Kamchatsky gas trunkline with the length of 392 kilometers and the annual gas throughput of up to 750 million cubic meters.

You may use the photos provided that the source is acknowledged.

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This press release was issued by OAO Gazprom and was initially posted at http://www.gazprom.com/press/news/2012/march/article132411/ . It was distributed, unedited and unaltered, by noodls on 2012-03-30 17:12:02 PM. The issuer is solely responsible for the accuracy of the information contained therein.

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